EDF Energy will take on failed supplier Toto Energy’s 134,000 customers, Ofgem has announced.
For those of Toto’s customers who were acquired in August when Solarplicity ceased to trade, it is the second such change in a number of months.
However, customers should expect to see a reduction in their energy bills as EDF said that they would offer a competitive tariff.
EDF will also honour any outstanding credit balances, including money owed to both existing and former customers of the bust supplier.
If customers wish to switch to another supplier, they will not be charged any exit fees. If not, customers will have their new accounts set up in the coming weeks.
Philippa Pickford, Ofgem’s director of future retail markets, said: “I am pleased to announce we have appointed EDF Energy for the customers of Toto Energy. Their energy supply will continue as normal and credit balances will be honoured.
On Wednesday Toto became the 16th supplier to go bust in just over a year. The company had been given a month to pay £14.7m in green fees or lose its license.
The company ceased to trade just a day after Ofgem released a new set of proposals designed to protect consumers against collapsing suppliers.
Under the proposed regulations, Ofgem would have far more rigorous powers to audit energy companies, as well as ensuring that they maintain proposals detailing what would happen in the event of their failure.
In 2019, the Energy Ombudsman received more than 730 complaints about Toto Energy.
Chief executive Matthew Vickers warned that the collapse meant that it was unlikely the ombudsman would be able to help with any outstanding complaints against the company.
Main image credit: Getty